Ranking Members Warn Against Bypassing Treaty Process
Washington, D.C.–The top Republicans on the U.S. Senate Finance Committee, the U.S. Senate Foreign Relations Committee, and the U.S. Senate Banking Committee expressed serious concerns with the Administration’s recent suggestions it is considering circumventing the Senate’s constitutional treaty authority in implementing a global tax agreement. Finance Committee Ranking Member Mike Crapo (R-Idaho), Foreign Relations Committee […]
Crapo, Brady Request Information on Efforts to Prevent Fraud in Tax Credit Program
Washington, D.C.–Top Republicans on the Senate and House tax panels are calling on the Government Accountability Office to look into whether states and federal agencies are taking proper steps to identify and prevent fraud and improper payments in paying out tax credits for health coverage, called “premium tax credits” or PTCs. The Members call […]
Crapo, Grassley Ask for Investigation into IRS Research Activities in Light of ProPublica Leak
Washington, D.C.–Despite announcements of various inquiries and investigations, nothing is known about the source of the massive leak or hack of private taxpayer information ending up in the hands of advocates at ProPublica. Meanwhile, the Internal Revenue Service (IRS) has said it does not yet even know whether there has been a threat of a […]
Analysis: House Tax Bill Offers Scant Relief and Breaks Biden Tax Pledge
Washington, D.C.–A new analysis by the non-partisan Joint Committee on Taxation shows how few taxpayers will meaningfully benefit from the bill recently approved by the House Ways and Means Committee, as well as the fact that taxpayers across all income levels will face a tax increase under the bill in a direct violation of President […]
Finance Committee Republicans Blast Reckless Tax-and-Spend Proposals
Washington, D.C.–U.S. Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), joined each other to highlight some of the most egregious proposals under consideration in the Democrats’ $3.5 trillion reckless tax-and-spending spree. The Members note that far-reaching proposals to reimagine America as a welfare state will stunt our economic recovery; punish low- and […]
Crapo Statement at Nomination Hearing
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing to consider the nominations of Neil MacBride to be General Counsel of the Treasury and Christi Grimm to be Inspector General of the Department of Health and Human Services. The text of Ranking […]
Crapo: Job-Killing Tax Hikes will Hurt Middle Class, Help China
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, delivered remarks on the Senate Floor today on the Democrats’ $3.5 trillion reckless tax-and-spending bill. In his speech, Crapo says the efforts to reimagine America by imposing crippling tax hikes will stunt our economic recovery, further impede labor markets, and punish low- […]
Crapo, Brady Introduce Bill to Protect Taxpayer Rights and Privacy
Tax Gap Reform and IRS Enforcement Act provides guardrails around proposed IRS funding Washington, D.C.–Seeking to protect taxpayers against Democrats’ campaign to monitor Americans’ bank accounts, place taxpayer finances in a surveillance dragnet, and provide massive, additional mandatory funding to IRS for an army of IRS agents, U.S. Senate Finance Committee Ranking Member Mike […]
Senate Democrats’ International Tax Proposal Receives Overwhelmingly Negative Feedback from U.S. Manufacturers and Innovators
Senate Democrats’ tax proposals would severely disadvantage U.S. businesses relative to their foreign competitors with tax increases under Foreign-Derived Intangible Income (FDII) and the Global Intangible Low-Taxed Income (GILTI) minimum tax, resulting in fewer jobs, lower wages, and decreased investment in U.S. manufacturing and innovation. To view this document as a PDF, click here. […]
Democrats’ Tax Hikes Let China Win
Democrats’ proposed $2 trillion tax increase would overwhelmingly apply to U.S.-based businesses, not their foreign competitors. If Democrats successfully impose their reckless tax increases on our businesses, China will gain the global edge on jobs, investment and innovation. A simple analysis comparing each country’s tax rates and policies shows that Democrats’ tax proposals would create […]